Drinking milk products in Singapore is set to see a slight negative retail volume CAGR in the forecast period. The growing popularity of plant-based milk is expected to provide growing competition for drinking milk products, as they compete for the same usage occasions.
Retail volume sales of powder milk have been seeing moderate declines in Singapore since the boost to sales seen during the first year of the pandemic in 2020, as consumers have returned to their regular habits, and in 2024 sales are set to normalise at the pre-pandemic level. Moving forward, retail volume sales are expected to stagnate or see a slight decline over the forecast period, due to changing consumer preferences.
Retail volume sales of dairy only flavoured milk drinks in Singapore are expected to see a slow, continuous decline over the forecast period, as one of the key consumer groups in this category is younger children. Singapore has a shrinking birth rate, and this consumer group is therefore expected to contract over the forecast period, which will hamper sales.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Drinking Milk Products
This is the aggregation of flavoured milk drinks, milk and powder milk. Note: Plant-based drinking milk products should be excluded from this category and tracked under plant-based milk. Except for plant-based powder milk that should be tracked within the core dairy category of powder milk.
See All of Our DefinitionsThis report originates from Passport, our Drinking Milk Products research and analysis database.
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